Topic: Ethereum is the future of crypto, bitcoin is not. - page 103. (Read 116527 times)

The bitcoin is much stronger than other coins. But some other coins are catching up at the moment.

i do not say that Ethereum is the future of crypto and bitcoin is not , bitcoin are too much stronger and popular currency and people adopting bitcoin in high amount day by day so bitcoin will be get more stronger and i am sure that just bitcoin will be future of crypto for always.

It will be intereseting to see how ethereum launch will go.. So far they have completely failed to impress me the least bit..

That might change. For example, the DAO hacker got the ETC from the stolen DAO due to a smart contract.

"Smart contracts" seem to be the buzzwords that are gaining increasing traction in the digital market.
It is a sound enough idea, a contract that will rewrite itself according to commercial circumstances surrounding it
by using a complex series of rules embedded in its coding.

The ideas behind it are equally as sound theoretically.
Less input from the contracting parties means that smart contracts will come into being quicker and,
therefore, allow for transactions to be raised and completed more quickly.
Also, the fact that smart contracts require less input from both the parties involved and their lawyers,
will make commerce more fluid and more cost-effective both in terms of time and legal fees.

The only potential problem is that once you get past the theory and examine the practical with a legal eye,
you start to see that it is actually difficult to consider a smart contract as either smart or a contract and
that it is probably more accurate to drop the term smart contract; instead, referring to them as automated computer code.

Also, code works on linear decision-making and probability, but more often than not,
finding the right answer to settle a particular contractual nuance is a much more lateral process
and requires a level of creativity and flexibility that can come only from real-life experience.
To inject that depth of practical experience into code is, I would suggest, a nigh on impossible task.

This takes us on to another potential failing: If things turn sour between the contracted parties, who is there to sort things out?
There is a common myth that a smart contract cannot be litigated, but I would disagree.
As long as the heads of terms that sit behind the contracts are clear – and have clearly been accepted by the parties – there is scope to litigate
if the code is deemed not to be fit for purpose or has affected the transactions it is meant to support and/or the payments associated with those transactions.

This is, however, where things could get more complicated.  
As there is currently no international internet law,
the original contract would have to set out the jurisdictions of the parties and which country’s law the contract is reliant upon.
Again, these aren’t decisions that code can make, so these definitions and agreements would have to be made by people, quite possibly with specialist legal advice.  

And that is why I don’t believe that smart contracts in their current form can be considered smart or contracts.
As I said earlier, I don’t want this to come across as just another defensive letter of self-preservation from a lawyer in fear of losing fees.
As an experienced litigator who has fought for years to ensure my clients always get the best possible protection from their commercial contracts,
it concerns me is that an idea or even just a buzzword could lead numerous businesses into difficult and potentially very costly situations
just because they had bought into the next big thing.

The Ethereum is different from the litecoin. It is under constant development. Some big companies are using the Ethereum.

Absolutely, ethereum can play the role of a new litecoin.  Actually, that is what it currently mainly is: just another better's token on exchanges.  The "smart contract fuel" thing seems to be a far souvenir of the old days - this was what I was pointing at tongue in cheek.

Ethereum is then as much "smart contract gas" as bitcoin is "currency": not.  Essentially betting tokens on exchanges, and the "crypto tech" behind it doesn't matter much.  In fact, ethereum is somewhat better as currency than bitcoin, because it is faster.  But Litecoin is so too.